SALES and letting agent Brand Vaughan has purchased Tanat-Jones & Company, one of the city’s oldest independent agencies.

The deal marks Brand Vaughan’s first purchase since joining the Lomond Capital group earlier this year and brings its total number of properties under management to 1,500.

Tanat-Jones & Company, which was established in 1989, will operate under the Brand Vaughan name from early next year. It is based in Norfolk Square.

Brand Vaughan chief executive Tom Ghibaldan said: “The ethos of Tanat-Jones & Company perfectly complements that of Brand Vaughan, from our shared values to our shared vision.

“We recognise a huge opportunity in the Brighton and Hove area and with our expertise in both residential sales and leasing we look forward to investing in new and exciting products and services for our growing client base.”

Brand Vaughan joined property group Lomond Capital in March 2017 as it announced a new move into the South Coast property market.

The group, which recently secured £37.5 million of acquisition funding, also announced a new management structure ahead of its imminent move into London.

Lomond Capital chief executive Bruce Evans said: “This is a significant step for both Brand Vaughan and Lomond Capital.

“A combined Brand Vaughan and Tanat-Jones & Company will bring huge benefits to customers in the region.

“We’re very happy that our expansion into the South Coast has been a complete success and this new development paves the way for a prosperous future ahead.”

David Tanat-Jones, former owner of Tanat-Jones & Company, said: “The Brand Vaughan and Tanat-Jones & Company businesses are an excellent fit.

“I knew Lomond was the best option to take my business forward and continue its growth.

“I know the Tanat-Jones & Company team will relish the new opportunities that working with Brand Vaughan will bring.

“I look forward to working with Brand Vaughan over the coming months to ensure a smooth handover.”

Lomond Capital was established in 2010 by Stuart Pender and Roger Lane-Smith.

Stuart Pender was previously chief executive of Paymentshield, an insurance business which he acquired in 2004 with the backing of Bank of Scotland Integrated Finance. Profits increased from £5m in 2004 to £45m in 2009 when the business was sold.

The transaction generated a higher return than any other Bank of Scotland Integrated Finance transaction.

Roger Lane-Smith was senior partner of DLA Piper, the largest legal practice in the world which he build over a number of years via acquisition and organic growth.

Lomond received private equity backing from MML Capital Partners in 2014 to accelerate expansion in the UK’s rapidly growing residential rental property market.